Istanbul Rental Market Offers Greatest Stability In Turkey
News Posted On: 16 January 2009
Out of six of the largest cities in Turkey, Istanbul offered the most stable rental prices on a monthly basis throughout 2008, according to new figures.
Data compiled by Reidin.com showed that property in the capital had an average monthly nominal earning of 0.54 per cent.
It was rated second in the annual nominal residential returns, with the average property bringing in 6.7 per cent of the total value.
Kocaeli was found to have the highest returns, with properties in area bringing in 6.98 per cent.
However, the stability of prices in Istanbul might make it more attractive to purchasers of overseas property because there is more likely to be a steady price and demand for rental accommodation.
The data from Reidin showed that the monthly figures never dropped below 0.53 per cent or above 0.55 per cent.
In contrast, property in Ankara had fluctuations of around 0.05 per cent throughout the year.
According to Shelter Offshore, the boom in tourism in Turkey is helping to make its property market one of the most appealing in the world.
Written by Les Calvert
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